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10-Minute Take: King Dollar Steps Back

Mar 26, 2020 | RBC Economics


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George Davis, RBC Capital Markets’ currency strategist, explains what lies ahead.

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While stocks have been surging, the US dollar has been on a week-long slide. The correction comes after an extraordinary run-up in the dollar in early March, when investors fled to the greenback’s higher ground and corporates followed, to ensure they were dollar-funded heading into an economic crisis. The prospects now of massive fiscal stimulus and concerted central bank intervention have investors looking anew to the euro, pound and even the Canadian dollar. George Davis, RBC Capital Markets’ currency strategist, explains what lies ahead.

 

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